What to expect with CIMs? Typical personal info disclosed prior?

searcher profile

January 28, 2024

by a searcher from University of Colorado at Boulder in Parker, CO, USA

I'm six months into my search, and so far, I've been surprised by the little financial and other info disclosed with the CIMs I've received. I've received a handful of very high-level one-pagers, basically back-of-the-napkin math. Further half or so of the info seems to be aspirations projections. (i.e., last year did $3M in revenue, will grow to $9M by###-###-#### no further info or anything to substantiate that).


So, along with that, I've been asked to provide a detailed personal financial statement before the one-pager. It feels inappropriate, and who knows what they do with that info, cyber security risks, etc. I get that the broker would like to speed up the vetting on his end, but isn't it my business to provide details and assurances upon LOI? I'm not overly impressed with broker interaction and knowledge, but I'm wondering what approaches searches have succeeded in, should look off-market for most of my effort, etc.

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commentor profile
Reply by an intermediary
from Wake Forest University in Winston-Salem, NC, USA
A good CIM should be very informative. Ours are typically###-###-#### pages. And before I send that CIM, I owe it to my client to screen prospective buyers to see if they have the financial wherewithal and other qualifying criteria to make it to the finish line before I divulge the name and location of the client, and certainly before sending the detailed CIM. There have been numerous other good posts that discuss how searchers can position themselves by putting together a package of financial information, lender prequals, investor support letters, etc. if they don't have the financial wherewithal themselves.
commentor profile
Reply by a professional
from University of Southern California in North Palm Beach, FL, USA
https://youtu.be/FGma2GyKlvE?si=DVSZuftKMTnuVHY8 in-depth coverage by myself and an attorney reveals pitfalls and opportunities during this webinar
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